I am not shy about money talk and my hope, is that as we open the conversation, more women can step out of their fears based around money as well!
I’ll be honest - I haven’t always been super great in the money realm. It’s not something that came easy to me, so this message is here to save you from a few bumps and bruises I had to go through in order to learn.
First thing I learned was that money was a mindset. I had to change mine completely from focusing on just the income I had to bring in, to the freedom that I saw it could bring. Because money is such a touchy and emotional charged topic, most of us avoid it completely.
In fact, this was one of my biggest weaknesses. I didn’t want to look at my debt, my budget, or hold myself accountable to sticking to the agreements I made to myself.
However, once we change our mindset from focusing on the bottom line, switch the narrative from shame and guilt around how we spend (or have spent it before), we can buckle down to actually create money to achieve the freedom we want.
Money never releases stress and anxiety, it’s the energy around money that does.
And yes, it does feel really good to actually have money set aside when an emergency comes up!
If you find yourself avoiding money, here are some quick tips I learned to make a change and bring ease and flow into your life.
First - Get Clear on Your Spending
In order to release that anxiety and fear that comes around money, you have to get honest with yourself about how much money you are spending each month. It’s a lesson being comfortable in the uncomfortable.
When I sat down and actually looked at what I was spending, I was blown away. I even hired a bookkeeper to help me figure it out. I couldn’t believe the amount I was spending on things like my kids' snacks (up to $500 per month!!!) or subscriptions that I had forgotten about - and never used.
This alone made a huge difference on my savings goals. Instead of frivolously throwing money at things like snacks, I started being intentional about scaling back and setting that money aside.
Second - Track Your Income
After you get a handle on what is going on, you need to know exactly how much is coming in.
This is another place you can hire out - even using something as simple as the Rocket Money app. This allows you track all your income streams your household brings in so you are able to tell it exactly where to go.
It’s a game changer - and in my journey, this was the place my money mindset shifted. Not only did I become better at saving and prioritizing, I became a smarter with spending and learned to accept more into my life.
My thoughts around money, as in “it’s never enough”, shifted to where I became in control rather than a victim to whatever came up.
Wherever you are in your money journey, here are a few additional tips you can take to start making money work for you:
Make a money meeting and put it into your calendar. This goes for your business and your household.
Get real about your debts, your income, and where your money is currently going.
Start an “emergency fund”. One of my favorite money gurus Mike Michalowicz who wrote “Profit First” suggests opening up a bank account at a local bank (without access online) so when you need it - you have to physically go in and withdraw. It makes a difference when planning for emergencies
Learn about investing even if in small amounts (get free stock to start on the Robinhood app)
Enlist someone to begin helping you keep your money straight
Find the things you excel at in “regular life” and ask yourself if you can use it as a way to create income
Regularly visualize accepting more money into your life (Secret to Money app)
Start believing in your ability to accept more money into your life
Write down the amount of time (real time) you spend on a project so you can actually put to numbers what you and your time is worth
Money conversations are our thing! We want to partner with you to help your business become a money making machine. Connect here to see how working with Legacy can take back your time and increase your profits by streamlining your business strategy!